David Breeze will have a plan for MMR... IMO it will be used similar to 2010 as a major investment vehicle to PEP11. Several million dollars will have to be raised by MMR to take part in the Advent share offer and not have its interest diluted. Let's see what happens between now and then. My feeling is that David will engineer the interests that BPH and MMR have in Advent to about equal before opening up Advent to IPO. MMR remains one of a very few companies out there that enables tax free capital gains and is the only PEP11 company that does. David has plenty of reasons to ensure MMR gets going as soon as possible.